The Stock Exchange of Mauritius will launch a new index next month dedicated to African firms to attract more issuers from the continent. File Image: IOL

Mauritius bourse looks to entice African issuers with new index

By Reuters Oct 19, 2018

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PORT LOUIS - The Stock Exchange of Mauritius will launch a new index next month dedicated to African firms to attract more issuers from the continent, its chief executive said.

The government of Mauritius, already an established offshore financial centre, is also seeking to broaden its appeal to foreign investors by introducing a derivatives trading platform, with commodities and currency contracts.

The bourse has a market capitalisation of $12 billion, but only 29 of the 156 new listings since 2009, 87 of them international, are from Africa-focused firms, Chief Executive Sunil Benimadhu told a news conference.

Known as the Africa Board, the new market category will require prospective issuers of securities to have half of their assets on the African continent or show they generate half of their annual revenue from operations on the continent.